As of the end of June, the Australian economy had recovered to be 1.6% above its pre-COVID peak (in Q419), positioning Australia among the best of the major economies (ex-China).
This solid Q2 result confirms the Australian economy’s strong momentum heading into the current NSW and VIC lockdowns and suggests a strong rebound is in prospect once restrictions ease.
Of course, the current lockdowns will weigh heavily on the economy in the current third quarter, however, the consumer savings war chest will likely ensure a relatively strong rebound in growth as soon as the NSW and VIC economies are allowed to reopen. In this report we discuss:
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David is one of Australia’s leading investment strategists.